Court confirms plan and clears Shannon Wind asset sale
The court used the June 3 hearing to move Shannon Wind from solicitation into implementation: the minute entry states that Motion 66 was approved and the Chapter 11 plan was confirmed, subject to amended proposed orders, after a 9:02-9:35 a.m. hearing with exhibits admitted Plan Confirmation Hearing Minutes. A confirmation order later approved the disclosure statement on a final basis, confirmed the plan for Shannon Wind, made the order effective immediately, and tied plan implementation to closing the sale transaction, with sale proceeds to satisfy allowed prepetition secured obligations Plan Confirmation Order.
The sale path matters because it monetizes substantially all of the debtor’s Clay County, Texas wind assets. Komu Kumar’s sale declaration identifies 1370 Clean Energy LLC as the stalking horse and successful bidder after no competing qualified bids emerged by the May 15 deadline, with consideration of $129.5 million, subject to adjustments, plus assumed liabilities Declaration Supporting Sale Transaction. Creditor support was broad: Class 3 prepetition secured claims accepted with two votes representing $117.6 million, and Class 4 general unsecured claims accepted unanimously by valid votes representing $24,663 Plan Vote Tabulation Declaration.